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Sterling ticks higher after PM says wants maximum access to single market
October 12, 2016 / 11:36 AM / a year ago

Sterling ticks higher after PM says wants maximum access to single market

LONDON, Oct 12 (Reuters) - Sterling gained around a quarter of a cent against the dollar on Wednesday after Prime Minister Theresa May said Britain would seek a deal with the European Union that will include maximum possible access to the bloc’s single market.

May told Parliament that Britain would be ambitious in its negotiations and would strive for “the maximum possible access to the European market for firms to trade with and operate within”, though the deal must also include curbs on immigration.

Sterling climbed to $1.2275 after May’s comments, from around $1.2250 beforehand. That left it up 1.2 percent on the day but below highs hit after news that parliament would be allowed some scrutiny of the Brexit process.

Against the euro, the pound strengthened to 89.84 pence , from 89.94 pence per euro before. (Reporting by Jemima Kelly; editing by Patrick Graham)

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